In order to work productively in the Forex market, a trader needs to know the information about the direction of the main trend in the very beginning of the trading week. Trend , in this case, it is the direction of movement of currency pairs in the Forex market, which is easily monitored after trades are completed. By itself, the trend is formed depending on many factors. For example, the weekly trend is influenced by two factors:
First, it is influenced by movement of the currency pairs on the American Stock Exchange on Friday.
Second, the formation of the weekly trend is also influenced by the opening of the price gap, finally, the last follow-up period beginning on the Asian session. Desired result is obtained by plotting the resistance level of currency pairs. In this case, when the currency pair punch resistance levels, then, as a rule, then they turn into support levels and then repel them and begin to move in a certain direction for a week.
A starting point from which a start currency pairs piercing resistance up or down, the channel resistance is formed between the U.S. and Asian sessions and determined fractals and zigzags. And the trend follows a predetermined direction for the entire week.
Movement of currency pairs in the U.S. market on a Friday is a kind of testing that will be shaped by the news published at the weekend, as well as under the influence of the main trend. For example, if the change of currency pairs are not able to influence the negative news, it means that brokers are not ready for the races and the main movement of the currency pair will begin only on Monday.
In that case, when a currency pair makes a tangible jump on the trend, then there are two possible outcomes:.
First, if the pair last week was 300-400 points, a new wave of trend, according to Eliot, goes first, and the third wave, which is moving in the same direction to increase by 60%.
The second is when each new week is a new trend abruptly.
If the pair did not start his movement on Friday in the U.S. session, it means that the brokers did not have time to determine the direction of currency pairs on the following week, and the main direction of the trend will be known only on Monday morning.
From all the above it can be concluded that determine the behavior of currencies on Friday for the rest of week can be based on the behavior of waves Eliot. This means that if a potential trend in Friday's big enough and it is discontinuous, in the beginning of the week to start a new wave of this trend, or a correction or retraction. If the currency makes the jump from the trend in the opposite direction, the movement of the currency pair is converted in the first wave, the truth of the opposite trend. If the motion on Friday, not at all, it is quite possible that the formation of a trend will begin only at the beginning of next week.
In order to work in the Forex market has become successful, any trader should make it a rule, make a periodic review of the economic calendar Forex market next week. It is also necessary to make appropriate notes of the events that can affect the mood of the trend, as well as its correction. Plus, this any trader, even the most experienced should never forget that the trend can not exist on its own during the day. To the traders in the currency market were successful, he should not forget that the bulk of currency movements is still before the main news to be published, and after its publication it will happen only slight progress in any direction.
First, it is influenced by movement of the currency pairs on the American Stock Exchange on Friday.
Second, the formation of the weekly trend is also influenced by the opening of the price gap, finally, the last follow-up period beginning on the Asian session. Desired result is obtained by plotting the resistance level of currency pairs. In this case, when the currency pair punch resistance levels, then, as a rule, then they turn into support levels and then repel them and begin to move in a certain direction for a week.
A starting point from which a start currency pairs piercing resistance up or down, the channel resistance is formed between the U.S. and Asian sessions and determined fractals and zigzags. And the trend follows a predetermined direction for the entire week.
Movement of currency pairs in the U.S. market on a Friday is a kind of testing that will be shaped by the news published at the weekend, as well as under the influence of the main trend. For example, if the change of currency pairs are not able to influence the negative news, it means that brokers are not ready for the races and the main movement of the currency pair will begin only on Monday.
In that case, when a currency pair makes a tangible jump on the trend, then there are two possible outcomes:.
First, if the pair last week was 300-400 points, a new wave of trend, according to Eliot, goes first, and the third wave, which is moving in the same direction to increase by 60%.
The second is when each new week is a new trend abruptly.
If the pair did not start his movement on Friday in the U.S. session, it means that the brokers did not have time to determine the direction of currency pairs on the following week, and the main direction of the trend will be known only on Monday morning.
From all the above it can be concluded that determine the behavior of currencies on Friday for the rest of week can be based on the behavior of waves Eliot. This means that if a potential trend in Friday's big enough and it is discontinuous, in the beginning of the week to start a new wave of this trend, or a correction or retraction. If the currency makes the jump from the trend in the opposite direction, the movement of the currency pair is converted in the first wave, the truth of the opposite trend. If the motion on Friday, not at all, it is quite possible that the formation of a trend will begin only at the beginning of next week.
In order to work in the Forex market has become successful, any trader should make it a rule, make a periodic review of the economic calendar Forex market next week. It is also necessary to make appropriate notes of the events that can affect the mood of the trend, as well as its correction. Plus, this any trader, even the most experienced should never forget that the trend can not exist on its own during the day. To the traders in the currency market were successful, he should not forget that the bulk of currency movements is still before the main news to be published, and after its publication it will happen only slight progress in any direction.